Walmart Board Pays $123 Million to End Pension Fund Opioids Case

Walmart Inc.'s senior leaders have agreed to a $123 million settlement of a pension fund lawsuit blaming them for its role in fueling the nationwide opioid epidemic.

The proposed accord filed Monday will resolve claims that the retail giant’s top brass—including billionaire Rob Walton—turned a blind eye to a business model based on rampant drug trafficking. A judge who let the case move forward last year said the allegations, if true, showed the board “consciously condoned illegality,” putting profits ahead of the law.

Walton, the eldest son of founder Sam Walton, is the world’s 16th-wealthiest person, with a net worth ...